Borderlands 3 developer Gearbox purchased for $1.3 billion by Embracer Group GamesRadar 2/3/2021
Borderlands 3 developer Gearbox Entertainment has been bought for $1.3 billion by the Embracer Group.
As first reported by VentureBeat, Gearbox Entertainment will be acquired by the Sweden-based Embracer Group which, at the time of writing, has over 5,500 employees worldwide. Gearbox s two studios, in Texas and Quebec City, Canada, will be added to that enormous roster of employees.
In the wake of the acquisition, Gearbox has plans to expand at both internal studios, and will be looking to develop both existing and new IP going forward. However, it has been confirmed by 2K that they will continue to publish games in the Borderlands series.
Gearbox Entertainment, the developer most well known for the successful Borderlands franchise, has been acquired by Embracer Group for $1.3 billion and will become the seventh operating group under their name, joining the likes of THQ Nordic, Saber Interactive, Koch Media, DECA Games, Amplifier Game Invest, as well as Coffee Stain Holding.
Embracer Group (formerly known as THQ Nordic AB), has been acquiring a lot of studios lately. With 18 acquisitions in a single day last year in November, Gearbox is one of the bigger ones theyâve made. Gearbox Founder Randy Pitchford will reportedly remain as head of the studio.
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The feeling at Gearbox is that we are just getting started and this transaction is not merely a stimulant for the talent of our employee-owned company, but a propellent for the exciting future we have planned,â Pitchford said.
Gearbox Entertainment, the studio behind
Borderlands, has been acquired by THQ Nordic parent company Embracer Group for $1.3 billion. The Embracer Group Gearbox acquisition will make the Texas-based studio of 550 another full operating group under Embracer (on an equal level with the likes of THQ Nordic).
As Gearbox merges with Embracer Group, the formerly employee-owned studio will see an injection of capital that will allow the studio to execute its plans for further growth and future development. Randy Pitchford will remain on as head of the company, and is excited at the prospects that the acquisition holds. “The feeling at Gearbox is that we are just getting started and this transaction is not merely a stimulant for the talent of our employee-owned company, but a propellent for the exciting future we have planned,” he said of the acquisition.
A Thinking Ape Entertainment Ltd..
Founded in 2008 and based in Vancouver, A Thinking Ape is a
developer of mobile Free-to-Play (FTP) games with a social core. The day one purchase price amounts to approximately MUSD 31 equivalent to MUSD 28 on a cash and debt free basis and is paid in cash and newly issued Embracer B shares plus additional consideration over 10 years, subject to fulfilment of agreed financial milestones, of a maximum MUSD 74. A Thinking Ape is one of the most respected mobile game studios in the industry. They ve been successful for over a decade and we believe they are on the cusp of stepping up to an even bigger level. I m delighted to join forces with Kenshi and the rest of his team